FG Nexus Inc (NASDAQ:FGNX) Short Interest Down 76.2% in February

FG Nexus Inc (NASDAQ:FGNX) saw a large decline in short interest in February. As of February 13th, there was short interest totaling 457,408 shares, a decline of 76.2% from the January 29th total of 1,923,501 shares. Based on an average trading volume of 93,283 shares, the short-interest ratio is currently 4.9 days. Approximately 7.3% of the company’s stock are sold short. Approximately 7.3% of the company’s stock are sold short. Based on an average trading volume of 93,283 shares, the short-interest ratio is currently 4.9 days.

FG Nexus Stock Down 7.4%

FGNX traded down $0.54 on Friday, hitting $6.71. 134,078 shares of the company were exchanged, compared to its average volume of 88,121. FG Nexus has a fifty-two week low of $6.64 and a fifty-two week high of $206.25. The firm has a market capitalization of $44.02 million, a price-to-earnings ratio of -0.38 and a beta of 0.74. The business has a fifty day moving average price of $12.62.

Hedge Funds Weigh In On FG Nexus

Several hedge funds and other institutional investors have recently bought and sold shares of FGNX. XTX Topco Ltd purchased a new position in shares of FG Nexus in the fourth quarter valued at $420,000. State Street Corp acquired a new stake in FG Nexus in the 4th quarter valued at about $500,000. Geode Capital Management LLC acquired a new stake in FG Nexus in the 4th quarter valued at about $1,330,000. OMERS ADMINISTRATION Corp purchased a new position in FG Nexus during the 4th quarter valued at about $239,000. Finally, Aristides Capital LLC acquired a new position in FG Nexus during the fourth quarter worth about $182,000. 3.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FGNX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of FG Nexus in a report on Monday, December 29th. B. Riley Financial lowered their price objective on shares of FG Nexus from $25.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Wall Street Zen cut FG Nexus from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Finally, Litchfield Hills Research initiated coverage on shares of FG Nexus in a report on Tuesday, November 11th. They issued a “buy” rating and a $60.00 target price on the stock. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, FG Nexus currently has a consensus rating of “Hold” and an average price target of $36.50.

About FG Nexus

FG Financial Group, Inc operates as a reinsurance and investment management holding company in the United States. The company offers specialty property and casualty reinsurance products and services. It also operates a special purpose acquisition company platform (SPAC) that provides various strategic, administrative, and regulatory support services to newly formed SPACs for a monthly fee. The company was formerly known as 1347 Property Insurance Holdings, Inc and changed its name to FG Financial Group, Inc in December 2020.